Banking & Savings IPOs » By The Online Investor Staff, updated Sat., Apr. 27, 2:02 AMRecent initial public offerings in the Banking & Savings IPOs category.
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Slide #1. The Bank of N.T. Butterfield & Son Limited — Initial Public Offering
Company:
The Bank of N.T. Butterfield & Son Limited
Proposed Symbol:
NTB
Shares Offered:
10,638,298
Price Per Share:
$23.50
Over-Allotment:
1,595,744
Description:
The Bank of N.T. Butterfield & Son Limited ("Butterfield") (BSX: NTB.BH), announced today the pricing of its US initial public offering ("IPO") of 10,638,298 of its voting ordinary shares ("Common Shares") at a price to the public of $23.50 per share. Butterfield is selling 5,957,447 Common Shares, with expected net proceeds of approximately $127 million to be used for general corporate purposes. In addition, certain selling shareholders ("Selling Shareholders") in the offering are selling 4,680,851 Common Shares for approximately $110 million. Certain of the Selling Shareholders have granted the underwriters a 30-day option to purchase an additional 1,595,744 shares at the initial public offering price, less underwriting discounts and commissions. The shares are expected to begin trading on 16 September 2016 on the New York Stock Exchange under the ticker symbol "NTB."
